Globeleq has completed the acquisition of a 51 percent equity stake in Lunsemfwa Hydro Power Company from Norfund, marking its entry into Zambia’s energy market and the Southern African Power Pool. The remaining 49 percent is held by Wanda Gorge Investments. LHPC operates two hydropower plants with a combined capacity of 56 megawatts and is developing a 27-megawatt solar project, alongside a broader 200-megawatt solar pipeline.
Based in Kabwe, LHPC supplies electricity to ZESCO under a long-term agreement and serves private clients including Copperbelt Energy Corporation. It also holds a regional trading licence within SAPP, enabling cross border electricity sales.
Globeleq described the deal as strategic, complementing its renewable portfolio and supporting expansion plans in Zambia, including the Kafue Solar and Leopard’s Hill projects currently advancing toward financial close.
